Forex Wave analysis and forecast
One of the key factors, which has influence on any trader’s success is his ability to correctly predict the market movements. The two main methods are technical and fundamental analysis of Forex market.
An important feature of fundamental analysis is its global nature. Events, which are analyzed in fundamental analysis, have long-term influence on supply and demand on the currency market. This information is composed of the news about the world’s biggest political and financial events. It’s hard to overestimate the influenced the news has on financial markets: when the most important news is published, the market volatility increases.
It’s quite easy for an experienced trader to analyze and predict how a single event may influence the market. However, analysis of several events, which may influence the market in completely different ways, is a very complicated and time-consuming process. This may be the reason why only approximately 20% of traders use fundamental analysis as their main forecasting tool.
Fundamental approach to Forex market analysis, unlike technical one, covers not only the prices and their changes, but the reasons for these changes as well. Each approach has its followers, advantages and disadvantages.
The horizontal triangle in the wave [b] implies that the EUR/USD pair may continue its growth in the wave [c] of E in the nearest future.
In case of the EUR/USD pair, we have to go back to the scenario, which implies that the price is forming the wave (B), probably in the form of the triangle.
Probably, the EUR/USD pair is still forming the diagonal triangle in the wave [v].
The EUR/USD pair is still forming the diagonal triangle in the wave [v].
The EUR/USD pair is confirming the scenario, which implies that it is forming the diagonal triangle in the wave [v].
Taking into account that earlier the EUR/USD pair formed the zigzag in the wave (i), in the future the price may continue falling in the form of the diagonal triangle in the wave [v].
In case of the EUR/USD pair, the main scenario remains bearish.
It looks like the EUR/USD pair started falling and right now is extending the third wave in the wave [v].
In case of the EUR/USD pair, the chart structure is bearish again.
The wave structure of the H4 chart is quite complicated.
The EUR/USD pair is still growing and may yet continue forming the wave E inside the horizontal triangle.
In case of the EUR/USD pair, the main scenario remains the same and implies that the current correction may yet continue.
It’s highly likely that the current correction may yet continue.
In case of the EUR/USD pair, the chart structure has been changed.
In case of the EUR/USD pair, the main scenario remains the same and implies that the price may continue falling inside the third wave.